EUR/USD Asia Price Analysis: Euro consolidates last week’s advance, holds above 1.1000 key figure

 

 

 

EUR/USD is retracing down from last week’s highs as the quote is consolidating close to the 1.1000 figure and the 100 DMA (daily simple moving average) while DXY is stabilizing. The quarter-end flows are currently benefitting the US dollar. 

 

 

EUR/USD is consolidating last week’s advance while holding above the 1.1000 key psychological level and the main SMAs on the four-hour chart. Bears would need a daily close below the 1.1000/1.0972 support zone for further declines towards the 1.0880 level, according to the Technical Confluences Indicator. Resistance can emerge near the 1.1046, 1.1091 and 1.1130 levels.